Answer:
debit to Sales allowance of $50
Explanation:
When some defect in a product is revealed or notified by the buyer, the seller usually grants the customer an allowance which is termed as sales allowance.
It is usually allowed when the customer agrees to keep the product instead of returning the defective product which would constitute sales returns.
Following journal entry is recorded for recording sales allowance
Sales Allowance A/C Dr. $ 50
To Accounts Receivable $50
(Being allowance for defects recorded)
Sales allowance is deducted from gross sales before the customer makes payment.
Answer:
The correct answer is letter "A": should be identified before decision criteria are established.
Explanation:
Decision criteria represent the set of steps individuals take while making a decision. Before taking a decision and selecting decision criteria, the decision alternatives must be outlined. Thanks to these alternatives a problematic situation will be resolved.
Displacement is the defense mechanism. Devised by the Freud's daughter Anna Frued which is one delicate follower of the Psychoanalysis theory and therapy pionnered by Sigmund himself. Defense mechanisms are told to be formed when there is a presence of anxiety, these anxieties are shaped when the id, ego and superego contradicts and coerces with one another. Thus defense mechanisms are formed to help the indivdual cope with his/her situation and anxiety. One is displacement as displayed in the statement above.
On an organization's board of directors, inside directors <span>may be members of the firm; outside directors </span><span>are supposed to be elected from outside the firm.</span>
The board of directors is responsible for keeping the organization’s vision, mission, and strategic planning goals. Duties of boards include: <span>choosing the CEO, approving major policies, making major decisions, overseeing performance<span>, and serving as external advocate.</span></span>
Answer:
The correct answer is letter "C": "If you do not report any differences with 15 days, it will be assumed that this statement is correct".
Explanation:
Accounts Receivable, or AR, is an accounting term used to refer to the money that is owed to a company by its customers. The customers, who may be individuals or corporations, are the debtors since they owe money for the goods or services provided by the company. When the product is sold in credit the company sets a number of days so that the customer can pay the bill amount. The term usually is 30, 60 or 90 days.
In that sense, and auditor may find 15 days suitable for a debtor for report changes in a statement, otherwise, it is considered as correct.
